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RBZ chief meets key stakeholders

The arrest and fining of 500 foreign currency dealers and unscrupulous businesses is a step in the right direction, but it only scratches the surface of the problem.

THE country’s first independent national commercial television station, 3Ktv, will host a special monetary policy review breakfast meeting in Harare on Tuesday.

Man-of-the moment, the new governor of the Reserve Bank of Zimbabwe (RBZ), John Mushayavanhu, will be the highly-anticipated gathering’s guest of honour.

Among the people who will attend the meeting are captains of industry and commerce, economic experts, academics and top diplomats.

This comes after the RBZ introduced the country’s new structured currency yesterday, as authorities bid to end sustainably the exchange rate and prices crisis of the past few months.

The currency will be launched on Monday at an introductory rate of 13,56 to one American dollar, and will be backed by a basket of reserves that include gold, other precious metals and foreign currency. 3Ktv is a sister venture to Zimbabwe’s number one business publication, The Financial Gazette, as well as the inimitable Daily News and the Daily News On Sunday.

The fast-growing station went live on February 28, 2022, becoming the first licensed free-to-air private station to operate in the country since television was first introduced in the then Southern Rhodesia in November 1960.

The history-making station had been licensed in November 2020, having come tops following a public and keenly[1]fought bidding and hearing process.

Tuesday’s important meeting will present the first opportunity for key stakeholders to interact with Mushayavanhu in a public forum since he became RBZ governor, and to gain more insight into yesterday’s MPS, as well as the monetary policy outlook going forward.

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